Saturday, July 8, 2017

The Digital Board’s IT Inquiries

The board’s oversight of information management agenda helps to highlight the strategic perspective of IT and improve its differentiated value.

The contemporary boards play the directorial role in driving changes, overseeing the business strategy, and monitoring business performance. They are also the “mastermind” behind the digital transformation. They should continue to ask insightful questions about IT to get digital ready.

Digital board directors today need to become more information friendly and technology-savvy: The matter of fact is that the change is inevitable and the speed of change is increasing due to the exponential growth of information and robust digital technologies. While directors bring many competencies to the table, most do not have access to information about technology-driven innovation and its potential related to the businesses they oversee. Given how applying IT is becoming so intrinsically important to so many different enterprises across industrial sectors, board directors should ask more insightful questions about IT because leading companies across industrial sectors claim they are in the information management business, and information technology becomes the key success factor for managing a smooth digital transformation.

The board’s oversight of information management agenda helps to highlight the strategic perspective of IT and improve its differentiated value: As technologies permeate into every corner of the organization and information provides invaluable foresight to enable business growth, IT is no longer just as an isolated function or the back office utility only. The role of IT today for many organizations is a business solutionary and the builder of digital capability and competence. Many times, it is a determining success factor for your business strategy to achieve fast growth and long-term sustainability.

With empowerment from the board, IT leaders are invited to the big table for contributing to strategic planning: It seems that the industry sector is already the outdated concept. All forward-looking organizations claim they are in the information management business. The Board's role, in large part, is to leverage the variety of point of views and make effective decisions (such as IT investment, risk management, etc.) that enhance the value creation for the organizations. BoDs are perhaps not interested in the information itself, but surely they would be interested in the V factor -VALUE it can bring to the table and understand the potential of IT for accelerating digital transformation.
Digital disruptions are inevitable, and digital transformation is unstoppable. An IT-savvy board will keep curious to ask good questions, have the advantage of pulling enough resources and pushing the business model of technology, innovation and ensure what happens next. The wheel of IT in the dynamic digital business environment should keep spinning to enable high-than-expected business achievement and accelerate the digital transformation.


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